The insurance industry is awash these days in acronyms. Adding to the influx of acronyms is the confusion they tend to cause: Many don't describe what they truly represent. The number of definitions for what business process management (BPM), also known as business process optimization (BPO), is-and what it can do-are numerous. Yet, as stated in INN's cover story, its popularity is soaring."Insurance companies are relying on vendors to tell them two things: where to use it, and where not to use it," says Marc Cecere, vice president of the financial services team at Forrester Research Inc., a Cambridge, Mass., research firm.
If you ask Joe Dzigiel, senior manager at Costa Mesa, Calif.-based FileNet Corp., BPM's acronyms and various definitions aren't as critical as what insurance companies are doing-or not doing-to fully use it.
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